Tokens Raise Concerns To Healthcare Industry


Healthcare industry deals with a lot of activities. Data, payments, authenticated access to data and security are the most important factors to deal with. Blockchain technology has already linked with banking, applications, finance and many more. There is a lot of buzz going around related to the use of blockchain in the healthcare sector.



Along with blockchain, they are planning to introduce own tokens into the market. In short, payments will be accepted with their tokens only. You have to buy them with own currency and can use them for fees and also for trading. Using blockchain for healthcare can help in having a more efficient system, but there can be a problem with the tokens.


BlockChain In Healthcare Sector


It is not today, but meetings and conferences were being done to merge healthcare with blockchain. In the year 2016, blockchain-healthcare conference with the title Distributed Health has been conducted. In 2017, HIMSS held a blockchain based workshop related to healthcare. Full form of HIMSS is the Healthcare Information and Management Systems Society.


Not only this, Office of National Coordinator for Health Information Technology in short ONC has conducted a blockchain contest. Subjects include clinical research, finance on healthcare and outcome of reports. ONC received more than 70 submissions.


There have been activities relating to blockchain and healthcare in regular successions. Few startups have applied this idea and are using already.



Related: Finally, A Smartphone With Blockchain Technology Has Arrived From SIRIN LABS



What Will Be The Problem?


Utilization of blockchain technology in healthcare is excellent. Fraudulent activities prevention, authentication, a secured medium of information exchange, the Internet of Things (IoT) integration to devices, maintaining transparency, secured bill payments are some of the benefits.


As cryptocurrencies are involved the significant doubt is whether it is permissible to reveal the holding of currencies in wallets? They are designed in such a way to get transactions done anonymously. In the present situation, assets and transactions are traceable through tax statements and records.




A coin has both sides. In this case, blockchain has various technological advantages to incorporate into healthcare. At the same time, the transactions are suggested to be disclosed to the public. Cryptocurrencies are designed to work with anonymity. Several doubts are being raised on traceability and disclosure of transactions.


"The blockchain integration to healthcare sector is halted at this point, but as errors get solved, it will move to the final phase, i.e., using tokens and blockchain technology"


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